Nelson Zide
ERA Key Realty Services | 508-277-7794 | nelson@nelsonzide.com


Posted by Nelson Zide on 8/19/2020

For those who want to buy a house, it helps to consider your options closely. That way, you can make an informed home purchase.

Now, let's take a look at three factors to consider as you prepare to conduct a home search:

1. The Local Housing Market

Assess the local housing market before you dive headfirst into a home search you will be glad you did. If you analyze the housing market in towns and cities where you want to live, you can determine if a buyer's or seller's market is in place. Then, you can map out your homebuying journey accordingly.

To differentiate a buyer's market from a seller's market, you should find out how long recently sold houses were available before they were purchased. You also may want to track houses as soon as they become available and see how long it takes them to sell. If residences linger on the housing market for many weeks or months, the real estate sector likely favors buyers. Or, if houses are purchased shortly after they become available, the real estate sector may favor sellers.

2. Your Home Must-Haves

Think about the features you want to find in your dream house. This will help you hone your house search to residences that match your expectations.

Oftentimes, it helps to enter the housing market with a list of home must-haves. This list can be updated throughout your house search and may help you simplify your quest to find your dream residence.

As you craft a list of home must-haves, be sure to include any house amenities you simply cannot live without. For instance, if you require a home that boasts a state-of-the-art air-conditioning system, you can search for a residence that offers this amenity. On the other hand, if you need a home that is located just minutes from your office in the city, you can search for a house in or near the city itself.

3. Your Homebuying Budget

You may have only a finite amount of money to spend on a house. If you get pre-approved for a mortgage, you will know precisely how much money is at your disposal. You then can search for a house that corresponds to your budget.

To get pre-approved for a mortgage, you should meet with a variety of banks and credit unions. These financial institutions can teach you about your home financing options and help you select a mortgage that suits you perfectly.

Lastly, as you get set to embark on a house search, you may want to hire a real estate agent. This housing market professional can offer expert insights into the homebuying journey. Plus, he or she is ready to respond to your homebuying concerns, at any time.

If you want to streamline the process of finding and buying a wonderful residence, it helps to plan ahead for the homebuying journey. Thanks to the aforementioned tips, you can review your options and boost the likelihood of enjoying a successful homebuying experience.




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Posted by Nelson Zide on 5/13/2020

Image by StockSnap from Pixabay

The perfect home is not the only thing you'll need to shop for when you want to become a homeowner. In order to get the best terms, the lowest monthly payment and a reasonable interest rate, start doing some homework now -- before you even attend your first open house. 

1. Check Your Credit Score

Checking your credit score should be the first thing you do when you're considering the purchase of a home. Why? Because every lender you speak to will use it as a benchmark for determining the likelihood of you being able to pay off the debt. The better your credit score, the more favorable terms and interest rates a lender might offer you. The earlier you know your credit score, the more time you have to address any issues that might be contained in it. Remember, you're entitled to one free credit report from each of the three reporting agencies each year. Take advantage of this service and keep tabs on your credit score. 

2. Have Steady Employment 

Being able to demonstrate that you are gainfully employed will go a long way toward qualifying for a mortgage loan and being offered attractive interest rates. Aim for at least two years of unbroken employment. Be ready to back up your claims regarding the duration of your employment and the dollar amounts you bring home. 

3. Offer a Sizable Down Payment 

Come to the negotiating table with a lender and with a solid down payment, you'll be able to enjoy lower monthly payments. There's no fast rule regarding the amount of a down payment. That being said, most lenders like you to have at least 20 percent of the home's purchase price as the down payment. There are some lenders, however, who accept less than 20 percent. If your lender accepts down payments that are less than the standard 20 percent, expect to have to purchase private mortgage insurance. This can be anywhere from .05 percent to 1 percent. 

4. Know Your Debt To Income Ratio

The debt to income ratio demonstrates your ability to pay off the mortgage as agreed upon. Most lenders like to see that your monthly debt payments are equal to or less than 43 percent of your gross monthly income. 

In a seller's market, there might be several people vying for the same home. Addressing the items above can make you look more attractive compared to some of the other potential home buyers. 




Tags: buyer tips   credit score   loan   planning  
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Posted by Nelson Zide on 3/18/2020

With 24 hours before you finalize your home purchase, you might feel a mix of anxiety and excitement.

What will it be like to finally own a home? How will the home closing process go? And what will I need to do to ensure everything goes seamlessly as you wrap up your home purchase? These are just some of the common questions that homebuyers consider in the hours leading up to a home closing.

It is important to prepare as much as possible before you complete a home purchase. Lucky for you, we're here to help you do just that.

Let's take a look at three tips that you can use to get ready to finish a home purchase.

1. Get Your Paperwork in Order

You may need multiple forms of identification and other essential documents when you close on a home. Thus, you should put together a folder of any must-have documents at least a day in advance.

If you find that documents are missing, retrieve them as quickly as possible. Also, try to get multiple copies of important documents if you can.

When it comes to getting ready for a home closing, it usually is better to over-prepare. Therefore, if you plan ahead as much as you can, you'll have all of the documents you need to complete the home closing process without delay.

2. Finish Any Last-Minute Packing

After you finalize a home purchase, you'll be ready to move in to your new home. As such, you should ensure that all of your belongings are packed up and ready to go.

If you're vacating an apartment, ensure that you've notified your landlord and provided sufficient notice about your upcoming move. That way, you'll be able to finish your rental agreement on good terms with your landlord.

Also, if you need extra help for your move, be sure to reach out to a moving company or family members and friends. And if you require a moving truck, don't forget to rent one in the days leading up to your move.

3. Consult with Your Real Estate Agent

The day before a home closing can be stressful, particularly for first-time homebuyers. If you have any concerns about the home closing process, be sure to consult with your real estate agent.

Your real estate agent likely has been a life-saver throughout the homebuying process thus far and will continue to assist you in any way possible. If you have questions about the home closing cycle, your real estate agent will respond to your queries immediately.

In addition, your real estate agent can teach you the ins and outs about what will happen before, during and after a home closing. He or she will explain what to look for during a final home walk-through, what home closing forms that you'll need to sign and what to expect after a home purchase.

Streamline the home closing process use these tips, and you can get take the guesswork out of finalizing a home purchase.




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Posted by Nelson Zide on 2/12/2020

If you've been pre-approved for a mortgage, you can enter the housing market with a budget in hand. In fact, this mortgage will enable you to spend up to a certain amount on a house. But in many instances, it pays to buy less house than what you can actually afford.

Ultimately, there are many reasons to consider purchasing a house below your means, such as:

1. You might not have to worry about significant home maintenance.

A small house likely means less home maintenance than would be required in a large house. Therefore, you may be able to spend less time worrying about keeping your residence looking great if you acquire less home that what you can afford.

Of course, let's not forget about the money that you might save by purchasing an affordable residence. If you buy an inexpensive home, you may be able to use the money that you save to hire professional home cleaners, landscapers and others to help you enhance your residence's appearance.

2. You'll be better prepared than ever before for unexpected expenses.

There is no telling when a family emergency, natural disaster or other dangerous situations may arise. Fortunately, if you spend less on a house now, you may be better equipped than ever before to handle the expenses commonly associated with these unforeseen events.

Purchasing a cheap house may prove to be valuable if you encounter costly, time-intensive home repairs down the line too.

For example, your home's roof won't last forever, and you likely will need to fix or replace it at some point. But if you purchase a budget-friendly home, you may be able to save extra money that you can use to cover the costs associated with various home repairs.

3. You'll have more money that you can use to personalize your house.

The money that you save on a house today may be used to upgrade your home both now and in the future.

For instance, if you want to install a deluxe swimming pool or fire pit in your backyard, spending less on a house now may provide you with the financial resources that you need to fund these projects. And if you complete a broad range of home renovations, you may be able to increase your house's value as well.

Deciding how much to spend on a house can be a tough decision for any homebuyer, at any time. If you collaborate with a real estate agent, you can explore a vast array of residences that fall within your price range.

A real estate agent will learn about your homebuying goals and tailor your home search accordingly. He or she also will set up home showings, keep you informed about new residences that become available and ensure that you can discover a home that matches or exceeds your expectations.

Consider your budget closely as you prepare to kick off a home search. By doing so, you should have no trouble finding a terrific house at an affordable price.





Posted by Nelson Zide on 1/15/2020

Buying your dream home may prove to be a long, arduous process. Thankfully, those who prepare for the homebuying journey can limit the risk of encountering hurdles along the way. And as a result, these homebuyers may be better equipped than others to enjoy a fast, seamless property buying experience.

Now, let's take a look at three things you need to know before you launch a home search.

1. The current housing market may favor buyers or sellers.

It generally is a good idea to evaluate the current housing market closely. That way, you can differentiate a buyer's market from a seller's market and map out your homebuying journey accordingly.

A buyer's market typically features a wide range of quality houses that may remain available for several weeks or months after they are listed. Comparatively, a seller's market usually is defined by a shortage of top-notch homes, and houses may be purchased just days after they become available.

Regardless of whether you are operating in a buyer's or seller's market, it helps to refine your home search. If you enter the housing market with homebuying criteria, you can narrow your search for your ideal residence. Then, once you find your dream house, you can act quickly to submit an offer to purchase it.

2. You may want to get pre-approved for a mortgage.

If you get pre-approved for a mortgage, you can begin your house search with a budget in hand. You next can hone your home search to residences that fall within your price range.

To get pre-approved for a mortgage, you should meet with a variety of banks and credit unions. These financial institutions can teach you everything you need to know about fixed- and adjustable-rate mortgages. They also can help you make an informed mortgage selection in no time at all.

3. Having a real estate agent at your side can make a world of difference.

Homebuyers who try to navigate the property buying journey alone may struggle to achieve their desired results. On the other hand, if you hire a real estate agent, you can receive expert assistance as you search for your dream house.

A real estate agent understands what it takes to streamline the homebuying cycle. Thus, if you want to acquire a first-rate house as quickly as possible, a real estate agent can help you do just that. Or, if you want to find a stellar residence that won't force you to break your budget, a real estate agent will make it simple to discover an affordable house that suits you perfectly.

Furthermore, a real estate agent can respond to your homebuying concerns and queries. And if you are ever uncertain about how to proceed along the homebuying journey, a real estate agent is ready to provide tips and recommendations.

Want to enjoy a successful homebuying experience? Start planning for the homebuying journey today, and you can boost the likelihood of achieving the best-possible results.




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